Daily Trading Tips by Terry - Monday 21st October
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Recommendations:

Use an expiry time of 1 hour plus.
Risk no more than 2% of your account balance.
Tips are tradable until 4.00pm EST today.
The USA is scheduled to publish important economic data at 8.30am EST and 10.00am EST.

EUR/USD: This pair continued to consolidate the gains it acquire last week by trading sideways this morning within a confined horizontal channel. However, the US Dollar is now expected to extend its losses against the euro as this week unfolds amid increasing speculation that the Fed will not start stimulus tapering until the start of 2014 at the very earliest.

As such, with prospects of fresh greenback weakness developing, open a CALL binary option using the EUR/USD as its underlying asset if price breaks above 1.3700.

USD/JPY: Growing expectations that the USA will published a strong non-farm payroll figure tomorrow, which was delayed by the recent government shutdown, helped the US Dollar to rally against the ultra-safe Yen overnight. The pair climbed by just over 15 pips breaking both above a key resistance level and its psychologically important 98.00 level.

Currency specialists are now predicting that the Yen will weaken further today against the greenback. Consequently, buy the USD/JPY following an assertive surge above 98.35

GOLD TRADING: This precious metal enjoyed fresh demand overnight amid a weakening US Dollar and growing speculation that the US Federal Reserve will continue to inject easy money into the financial markets for a prolonged period of time. Consequently, the price of gold recorded a 1.5 week high earlier this morning.

After appreciating by just over 3% in value last week, bullion is now expected to extend its gains over the coming days. As such, execute a CALL binary option, constructed on gold, if price climbs above $1,317.20 per oz.

AUD/USD: This pair attained a new multi-month high this morning amid continuing US Dollar weakness and the Australian Dollar acquiring support from an improving Chinese economy. In addition, the Aussie is now receiving fresh impetus from increasing expectations that the US Fed will not consider instigating stimulus tapering until it is able to assess the damage done to the US economy by the recent government closure.

Consequently, analysts are predicting that further greenback weakness is now in the pipeline. As such, buy the AUD/USD following a clean break above 0.9700.

SILVER: Similar to other key commodities, this metal appreciated in value overnight as it continued to benefit from a weakening US Dollar. In fact, silver was perhaps the best performing commodity by easily outstripping gold.

The price of silver surged by almost 30 cents per oz as soon as the commodity markets reopened this morning by recapturing its $22.00 per oz handle in the process. As experts are now predicting that silver will extend its gains today, buy this metal if price can achieve a sustained break above $22.40 per oz.